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20121129
20121207
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CNNW 2
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Search Results 0 to 3 of about 4 (some duplicates have been removed)
PBS
Nov 28, 2012 5:30pm PST
talk of avoiding the much-discussed fiscal cliff. but as november wound down, the president suggested an agreement on taxes and spending could come in time for the holidays. >> i believe that both parties can agree on a frame work that does that in the coming weeks. in fact my hope is to get this done before christmas. >> you know me, i was born with the glass half full. i'm an optimist. >> brown: hopeful signs emanated from the white house and the capitol today, about getting a deal before the new year brings automatic tax hikes and spending cuts. president obama offered his optimism at an event with middle-class americans who'd be hit by any tax increase. >> i'm glad to see-- if you've been reading the papers lately-- - that more and more republicans in congress seem to be agreeing with thiidea that we should have a balanced approach. so if both parties agree we should not raise taxes on middle class families, let's begin our work with where we agree. >> brown: one such lawmaker is republican house member tom cole of oklahoma. the journal "politico" reported he's urging colleagues t
CNN
Nov 30, 2012 1:00pm PST
. if the fiscal cliff hits and nothing changes. as you go and look at the first group of folks here, talk about people who make very little money, up to $20,000 or $20,000 to $40,000. this yellow part represents the current amount of taxes folks are paying out there. if the fiscal cliff hits and nothing changes, this group would pay about $400 more. this group down here would pay about $1,200 more. that doesn't seem like a whether or not he will lot of money, but against that kind of income it's pretty big. move to the next category. if you go to $40,000 to $64,000 in income or $64,000 to $108,000, you see the green area's much bigger. that's because there are a lot of taxpayers like this. and they're paying a fairly sizable amount. but if they're out there and the fiscal cliff goes all the way through and nothing stops it, look what's going to happen. almost $2,000 more for this group. that's what you would have to pay if you're in that group. and look down here at the other one down here, $64,000 to $108,000, $3,500 more on that. and as you move up it gets even more so. go to this group, peop
CNN
Nov 29, 2012 11:00am PST
of u.s. homeowners could get a financial hit if the fiscal cliff negotiations tweak a popular tax break. if the negotiators do that, the mortgage interest deduction could be on the table at those talks. christine romans has more now. >> reporter: don, the middle class's most cherished tax break could be in the cross hairs of negotiations. government spending on this will reach $100 billion by 2014 making it the third largest tax break on the books. who does it help? 41 million people. the most recent irs data shows 41 million people claimed this deduction on their 2010 tax returns. the tax return policy center says it tends to benefit upper middle class families the most. for those with annual incomes of less than $40,000, their savings about $91. or $5,500. this benefits people most on both coasts and cities like chicago with higher property prices. watching the fiscal cliff negotiations closely for what could happen next to the tax goody next year. don? >> christine, thank you very much. >>> okay. the fiscal cliff, you have heard vague warnings. let's get specific about it. your child
Search Results 0 to 3 of about 4 (some duplicates have been removed)